[DSP] Whitepaper 3.0 | Crypto Asset Service Licenses
Although each country has a different position on the legal nature, supervision, and regulation of virtual asset operators, in essence, licensing procedures and anti-money laundering (AML) regulations are intensifying.
Delio obtained a Virtual Asset Service Provider (VASP) license from Korea Financial Intelligence Unit and a Money Services Business (MSB) certification from US Financial Crimes Enforcement Network (FinCEN). Later, the company joined the Washington DC-based Chamber of Digital Commerce, the world’s leading trade association representing the crypto assets and blockchain industry.
The company also acquired an Information Security Management System (ISMS) accreditation, taking Delio to an equivalent level with financial companies and banks, that inspects whether the information protection management system such as security, policy, personnel, equipment, and facilities established and operated by the company meets the certification criteria to protect the key information resources under the supervision of the Korea Internet and Security Agency (KISA).
Thenceforth Delio has secured legal stability and is growing into a legit finance company in the crypto market.
VASP (Virtual Asset Service Provider)
As the Financial Action Task Force (FATF) on Money Laundering defines crypto assets and NFTs as virtual asset providers, all crypto finance developers and operators can only operate legally if they are certified as VASPs.
Delio is the only virtual asset service provider licensed by the Korean financial authorities in the crypto asset management field.
MSB (Money Services Business)
In the United States and Canada, licenses are issued only to companies that are obligated to prevent money laundering by designating cryptocurrency handlers as “money services businesses (MSBs)” by law.[1]
Delio has obtained the Money Services Business license issued by FinCEN under the U.S. Department of the Treasury.
ISMS (Information Security Management System)
It is an authentication system that improves the level of security management of a company to a certain level and creates a system that can be continuously managed in accordance with the standards of the Korea Internet & Security Agency.
Delio has obtained the ISMS certification, the highest level of information security certification issued by KISA.
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